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Financial Decision-making
Comparing Payment Options
Automobile Financing
Is it more economical to buy an automobile for $29,000 cash or to pay $4,500 down and $3,000 at the end of each quarter for 2 years, if the money is worth 8% compounded quarterly?
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PAY $4,500 DOWN AND $3.000 AT THE END OF EACH QUARTER FOR 2 YEAR
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